According to Wedbush analyst Dan Ives, the release of the iPhone 15 will significantly contribute to the growth of the technology company. Ives, who has been optimistic about Apple’s stock (AAPL) for a long time, has raised his price target from $205 to $220 for the next 12 months while maintaining his Outperform rating. Here are some upcoming Apple I Phone 15 features that makes it worth the wait.
On Wednesday, Apple’s shares increased by 1.1% to $181.18, and the stock has seen a 39% rise so far this year.
Upcoming Apple I Phone 15 Features That Makes It Worth The Wait
In a research note, Ives expressed that Apple is in a position of great strength due to the upcoming launch of the iPhone 15. He believes the new model will drive revenue growth because there are millions of users ready to upgrade their phones to the newer versions.
Ives stated, “Based on our analysis, we estimate that approximately 250 million iPhones have not been upgraded in over four years, which sets Apple up for a significant increase in its customer base as the 15-year anniversary release approaches.”
While Apple has introduced various new products at its recent Worldwide Developers Conference, such as the highly anticipated Vision Pro headset and a new MacBook Air, smartphone sales continue to be the primary revenue driver for the company. In the last quarter, iPhones generated $51 billion out of Apple’s total revenue of $95 billion.
Ives believes that the combination of a new, more expensive iPhone model and the large number of users who have not upgraded their phones recently positions the company strongly for success.
Related Read | What To Expect From Upcoming I Phone 15 ? Rumors And Reports